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Competition watchdog says Grab, Uber willing to discuss acquisition deal

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ABS-CBN News

<figure class="op-interactive"><div id="IVS_ABS_Video_Widget_1_Container"><ivs-player id="IVS_ABS_Video_Widget_1" allow="autoplay" data-ivs-key="e8c22c015ca9eafa76f1e3edfa03c603" data-ivs-spid="3001339" data-ivs-wid="f5fb7bd1-3880"></ivs-player><script src="https://player.ivideosmart.com/ivsplayer/v4/dist/js/loader.js"></script></div></figure><div class="iwantbar">Watch more in <a href="~//www.iwantv.com.ph/">iWantv</a> or <a href="~//tfc.tv/">TFC.tv</a></div><p>MANILA - Ride-hailing firms Grab and Uber have reached out to the Philippine Competition Commission (PCC) regarding their plan to merge operations in Southeast Asia. </p><p>Commissioner Johannes Bernabe said Tuesday that both companies expressed willingness to sit down with the competition watchdog to discuss details of the acquisition deal by next week. </p><p>&quot;Ang Grab naman at Uber ay nagsimula nang mag-reach out sa PCC tungkol nga dito sa kinakailangang review ng PCC. Lamang, hindi pa sila officially nagno-notify,&quot; he told DZMM radio. </p><p>The ride-sharing firms earlier said the merger&#x27;s transition would be complete by April 8, meaning the Uber app could no longer be used in booking rides starting April 9. </p><ul class="op-related-articles">	<li><a href="http://news.abs-cbn.com/business/03/26/18/ride-hailing-firm-grab-buys-ubers-se-asia-operations">Ride-hailing firm Grab buys Uber&#x27;s SE Asia operations</a></li></ul><p>Bernabe said the mandatory review would only push through if the value of the Grab-Uber merger meets the PCC&#x27;s threshold, set at P2 billion for Size of Transaction and P5 billion for Size of Party. </p><p>If the deal meets the threshold, Grab and Uber will have to wait for the PCC to finish its mandatory review for a maximum of 30 days before pushing through with the transaction, he said.</p><p>Earlier this year, the PCC voided businessman Dennis Uy&#x27;s acquisition of a Dutch holding company that controlled Negros Navigation for failing to disclose the transaction to the body.</p><p>Bernabe said the public should be wary of mergers and acquisition deals because this may result in anti-competitive effects like poor quality of service and higher fares. </p><p>&quot;&#x27;Yung kaledad ng serbisyo. Siyempre &#x27;pag wala ka nang kalaban, hindi ka na kailangang maging very competitive in terms of the service you provide. &#x27;Yan ang kailangan bantayan natin,&quot; he added.</p><p>Grab earlier announced it is buying Uber&#x27;s ride-sharing and food delivery operations in the region. In exchange, Uber will receive a 27.5 percent stake in Grab, its statement said.</p><ul class="op-related-articles">	<li><a href="http://news.abs-cbn.com/business/03/26/18/ride-hailing-firm-grab-eyes-expansion-as-it-acquires-uber">Ride-hailing firm Grab eyes expansion as it acquires Uber</a></li></ul>

<p>MANILA - Ride-hailing firms Grab and Uber have already reached out to the Philippine Competition Commission (PCC) regarding their plan to merge operations in Southeast Asia. </p>

MANILA - Ride-hailing firms Grab and Uber have already reached out to the Philippine Competition Commission (PCC) regarding their plan to merge operations in Southeast Asia.